In the world of cryptocurrency, it’s common to see new projects being introduced every day. This space is constantly evolving, with developers and entrepreneurs launching innovative projects aimed at solving various challenges or tapping into new opportunities.
From decentralized finance (DeFi) platforms to non-fungible token (NFT) marketplaces, the crypto space is bustling with activity as teams work to push the boundaries of what’s possible with blockchain technology. With so much happening, it is necessary for enthusiasts and investors to stay informed and keep an eye on emerging projects.
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There’s been a lot of talk about Ice, and you might be wondering what all the fuss is about. In this article, we’ll explore what it is and what the project is really about. So, if you’re curious to learn more, keep reading to uncover all the details!
Ice is a digital currency transforming the way users mine and earn cryptocurrency right from their mobile devices. Designed to restore trust in digital assets and foster a strong sense of community, the project offers an inclusive platform for people who may lack the financial means to mine Bitcoin or have arrived late to the crypto game.
With Ice, users can mine or earn digital currency using any mobile device. Operating within a trust-based community, the project has garnered a growing user base interested in exploring the potential of digital currencies. Joining the network is by invitation only, allowing users kick start their journey and build micro-communities within the platform.
How to Pre-Stake Ice Tokens
Pre-staking is a feature allowing users to deposit a portion of their mined tokens for a designated period and receive increased rewards in return. This feature is accessible during Phase 1 of the project, preceding the Mainnet launch and token distribution.
By pre-staking, users not only demonstrate their trust and dedication to the project but also contribute to the network’s security and governance. Additionally, pre-staking offers an opportunity to accumulate more Ice coins before they are released to the market.
Pre-staking Ice tokens is pretty straightforward. Here’s how you can do it:
- Launch the Ice app on your phone and locate the “Pre-Stake” button.
- Select the amount of coins you wish to pre-stake. You can pre-stake up to 100% of your balance, make sure to keep at least 1 coin in your wallet for mining purposes.
- Determine the duration of your pre-staking period. The project allows you to pre-stake your coins for a maximum of 5 years, with longer periods offering higher rewards. For instance, opting for a 5-year pre-staking period can amplify your earning rate by 250%.
- Review and confirm your pre-staking details, then tap on the “Pre-Stake” button once again.
- You have now successfully pre-staked your coins, boosting your earning rate. Keep track of your pre-staking status and earnings directly within the app.
Ice Network KYC 3 Questions and Answers
Joining the Ice network is open to everyone, and the verification process, known as Know Your Customer (KYC), involves live verification when claiming Ice tokens. The KYC 3 process consists of twenty-one questions for knowledge verification and users are required to pass or their mining will be disabled if they fail three times.
Here are the Ice Network KYC 3 Questions and Answers:
1. How is the Pre-Stake bonus in the project rewarded to users?
Answer: By Increasing their mining rate.
2. What is the network’s approach to governance?
Answer: Decentralized, community driven governance.
3. What information can you find on the team screen in the Ice project app?
Answer: The current check-in activity of your referrals.
4. What does the term halving refer to in the cryptocurrency industry?
Answer: The process of reducing the issuance rate of new coins.
5. What is the % you and your Tier 1 friends receive when mining together?
Answer: 25% bonus.
6. On what network will the token distribution take place?
Answer: BNB Smart Chain.
7. How can users earn Ice in the Ice network?
Answer: By checking in every 24 hours.
8. How does the project aim to demonstrate the value and reliability of its digital coin to gain wider acceptance?
Answer: By building trust with owners and users.
9. What type of bonus do you receive for friends referred by you (Tier 1) and those referred by your friends (Tier 2) in the project?
Answer: 25% for Tier 1 and 5% for Tier 2.
10. How often will the BNB Smart Chain distribution occur in the Network?
Answer: Monthly.
11. Why did the project team feel the need to create a new cryptocurrency?
Answer: To create a transparent, fair, and accessible cryptocurrency.
12. How are Validators selected and reelected in the network?
Answer: Validators are elected by the community and must be reelected every two years.
13. How many times can you benefit from the resurrection option in the project?
Answer: Once.
14. When are users notified about the availability of extra bonuses in the project?
Answer: Between 10:00 and 02:00.
15. What factors determine the total supply of Ice coins?
Answer: Multiple factors, including total registered users, online miners, halving events and bonuses.
16. What blockchain technology does the project use for its consensus mechanism known for its speed, security and scalability?
Answer: Proof-of-Stake (POS)
17. What is the role of validators in the network’s governance and operation?
Answer: Validators are tasked with maintaining the network’s security and availability.
18. In the project, what is the purpose of the resurrection feature?
Answer: To restore all slashed coins after a period of inactivity.
19. What is the primary role of the Ecosystem Growth and Innovation Pool Fund in the network?
Answer: To foster innovation and expand the ecosystem.
20. Does mining in the network require keeping the app open all the time?
Answer: No, mining doesn’t consume any phone resources.
21. What is the primary focus of the Treasury Fund in the network’s financial ecosystem?
Answer: Supporting research and development efforts.
22. What sets Ice apart from other cryptocurrencies in terms of mining?
Answer: Ice mining requires zero energy processing power,and battery life.
23. How can a user restore lost coins due to inactivity in the project?
Answer: By initiating a new check-in session and choosing the resurrection option
24. What is one of the main advantages of Ice being an open-source project?
Answer: It promotes transparency and allows anyone to review the project’s code.
26. What is the staking concept similar to?
Answer: Depositing money in the bank.
27. What is the primary goal of the Network?
Answer: To build a decentralized ecosystem.
28. What makes Ice unique in the context of crypto mining?
Answer: It allows users to mine without using their phone’s resources, data, or battery.
29. During Phase 1 of the project, how much can users increase their mining rate through pre-staking?
Answer: Up to 250%.
30. What happens to the coins of users who become inactive in the project?
Answer: They are gradually lost in the progressive slashing.
31. How does the project encourage trust and social connections among its users?
Answer: By offering bonuses based on referrals and network activity.
32. What distinguishes the network from other mining methods?
Answer: It rewards those who actively build micro-communities.
How Much is Ice Crypto Worth?
Like many other cryptocurrencies, the price of Ice token is not stable, and it’s wise to use coin trackers to keep tabs on its fluctuating value. Coin trackers are helpful tools that allow users to monitor the price of Ice and other digital currencies in real-time, providing valuable insights for informed decision-making.
By staying updated on price movements, users can make better investment choices and manage their holdings more effectively.
In conclusion, it’s important to stress the need for doing thorough research before making any financial decisions. While this article provides valuable insights about Ice, you have to remember that the information presented here should not be construed as financial advice.